A business which recently celebrated a decade of success has selected confidential invoice discounting to expand its operations still further.

A supplier of components to the power industry, many of the company’s clients are large, international organisations. Due to the quality of the book, the company has not experienced a bad debt in all of that time.

However, a main feature of supplying blue-chip companies such as these has been the high level of debtor concentrations.

The managing director comments, “Invoicediscounting.co.uk showed us how we could obtain funding based on 100% of our invoice values. This was particularly helpful since our business can also be subject to seasonal funding peaks.”

“When we approached our clearing bank, they were not at all helpful. The fact that a significant proportion of the sales ledger was export together with debtor concentrations made it a more complex transaction that only our present financiers could get their heads round.”

He continued, “We entered into preliminary discussions with a number of invoice discounting companies but these did not offer such a flexible and supportive approach. Now we have a company that is always looking to provide solutions rather than producing additional hurdles for us to cross.”

“Confidential invoice discounting is the right arrangement for us. It provides advantages for a business with the potential for growth and, unlike overdraft arrangements with the clearers, you do not have to spend time continually re-negotiating the facility.”

“Right from the start, they were prepared to understand more of the features of my business. This wasn’t just a matter of producing an off-the-shelf package with rigid formulae that could not be altered in changing business conditions.”